Ventricular Assist Devices (VAD) Global Market - Forecast to 2023
NEW YORK, June 29, 2017 /PRNewswire/ -- The heart conditions are considered advanced or end stage heart failure, when conventional heart therapies and management strategies no longer work. The reduced ability of the heart to pump blood and maintain normal bodily function leads to heart failure. Heart transplantation is currently the preferred treatment for end-stage heart failure. The availability of donor hearts is insufficient to meet the required demand and many patients are not eligible for transplantation due to age and other health conditions. The ventricular assist devices (VAD) are used to treat end stage heart failure. The ventricular assist device is a mechanical pump that supports heart function and blood flow by taking on the workload of the left ventricle, right ventricle or both left and right ventricles helping the heart to pump oxygenated blood to the rest of the body.
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Products of Ventricular assist devices market is segmented into Left Ventricular Assist Devices (LVAD), Right Ventricular Assist Devices (RVAD) and Biventricular Assist Devices (Bi-VAD). VAD market by pump type is segmented into Pulsating or Pneumatic Pump and Continuous Flow Pump. The continuous flow pump is further segmented into Axial flow pump and Centrifugal flow pump. VAD market by implant type is segmented into Extracorporeal VAD, Intracorporeal VAD and Percutaneous VAD. VAD market by patient type is segmented into Adult and Pediatric VAD. Applications of Ventricular assist devices are segmented into Bridge to Transplant (BTT), Bridge to destination (BTD), Bridge to Recovery (BTR).
This report concentrates on ventricular assist devices that are placed internally or externally for treating end stage heart failure. The other mechanical circulatory devices like Total artificial heart (TAH), Extracorporeal membrane oxygenation (ECMO) and Intra-aortic balloon pump (IABP) are not considered in Ventricular assist devices report.
The Ventricular assist devices global market is expected to grow at double digit CAGR to reach $2,850.1 million by 2023. Among the Ventricular assist devices products, the Left ventricular assist device market dominated the products market by occupying a largest share in 2016 and the percutaneous VAD market is the fastest growing segment during the forecasting period. In applications, Bridge to Transplantation is the largest segment and Bridge to Recovery is the fastest growing segment.
Geographical wise, North America is the largest market followed by Europe and Asia-Pacific. The APAC region is the fastest growing region with double digit CAGR from 2016 to 2023 suggesting an array of opportunities for growth and likely to be getting into the eyes of new investors in the ventricular assist devices market. Growth in the Asian market is attributed to rising prevalence of lifestyle diseases, ageing population and government initiatives in establishing innovative technologies.
The Ventricular assist devicesis expected to grow at a strong CAGR during 2016 to 2023. Increasing incidences of cardiovascular diseases due to change in lifestyle, shortage of donor heart, Rise in the number of heart failure, shortage of donor heart, increasing ageing population, awareness of minimally invasive procedures and newly invented devices, raise in number of clinical studies performed are some of the drivers in the ventricular assist devices global market. Many entry level barriers, stringent regulations, high cost of the device, adverse events due to VAD implant and lack of skilled and trained professionals are some of the factors hampering the growth of Ventricular assist devices market.
The ventricular assist devices global market is a consolidated, highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares. Some of the key players of the Ventricular assist devices are Abbott Laboratories (U.S.), Medtronic PLC (Ireland), Abiomed (U.S.), Berlin Heart GmbH (Germany), EvaHeart (U.S.), Jarvik Heart (U.S.), Reliant Heart (U.S.), TandemLife (U.S.), etc.
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o U.S.
o Others
• Europe
o Germany
o France
o U.K.
o Others
• Asia-Pacific
o Japan
o China
o India
o Others
• Rest of the World (RoW)
o Brazil
o Rest of Latin America
o Middle East and others
Read the full report: http://www.reportlinker.com/p04945247/Ventricular-Assist-Devices-VAD-Global-Market-Forecast-to.html
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